Fidelity’s FETH ended the last trading day of 2024 with a notable $31.8 million inflow in the Ethereum exchange-traded fund (ETF) market. Data from Farside Investors reveal that Fidelity’s performance contributed to the market closing in the green with a $36 million inflow.
Fidelity ensures Ethereum ETFs end year in green
Fidelity’s FETH rebounded from an outflow of $20.4 million the previous day to record its last day of inflow for 2024. The outflow tainted Fidelity’s record streak of inflows in December.
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Grayscale's ETH was the only other asset manager with inflows, with $9.8 million. Grayscale’s Ethereum Trust ETHE suffered a $5.8 million outflow, while all the other asset managers, including BlackRock’s ETHA, registered zero flows on the year's last trading day.
Ethereum ETF Flow (US$ million) - 2024-12-31TOTAL NET FLOW: 36ETHA: 0FETH: 31.8ETHW: 0CETH: 0ETHV: 0QETH: 0EZET: 0ETHE: -5.6ETH: 9.8For all the data & disclaimers visit:https://t.co/FppgUwAthD
— Farside Investors (@FarsideUK) January 1, 2025
BlackRock and Fidelity have bolstered the Ethereum ETF market performance since their launch in July 2024. Despite kicking off with a slow start, the Ethereum ETF market has gained traction among institutional investors as the days go by.
Although Ethereum ETF still lags behind Bitcoin ETF, analysts see prospects in the growth trajectory of the product.
Ethereum ETFs outpace Bitcoin in year-end inflows
Comparing the inflows on the last trading day of both assets reveals the Ethereum ETF surpassed the Bitcoin ETF in net inflows. Bitcoin ETF managed $5.3 million compared to the $36 million recorded by Ethereum ETFs.
This suggests that institutional players might have decided to split their interest to invest in both asset classes. If this is the case, it could indicate that 2025 has the likelihood of seeing Ethereum and Bitcoin ETFs struggling for dominance.
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However, Ethereum has been unable to breach the $3,600 price level in the cryptocurrency market. ETH has suffered volatility as it attempts to retest the $4,000 mark it attained earlier in December. Investors look forward to a shift in 2025.
As of this writing, ETH is changing hands at $3,335.88, a 2.54% decline in the past 24 hours.
